We welcome article submissions from experts in the areas of coal, mining,
shipping, etc.
To Submit your article please click here.
|
|
|
Friday, 19 September 14
PRICES FOR DRY BULK CARRIERS HAVEN'T CORRECTED ENOUGH, DESPITE LOWER THAN EXPECTED FREIGHT RATES - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
 A lot has been said and written about the looming dry bulk market recovery over the past few months. However, even if this hasn’t been materialized, at least not yet, prices for dry bulk carriers haven’t abated that much. According to the latest report from shipbroker Intermodal this is due to a number of reasons, namely the overabundance of financing, given the rapid emergence of private equity funds, as well as the sellers’ expectations.
According to Intermodal’s weekly report, “cince the onslaught of 2013 the rising tide of asset prices had been primarily driven by the increasing freight market conditions and the improving sentiment as to the future prospects of the Dry Bulk markets. Having put behind them the “lean” years of 2011 and 2012, owners were starting to feel more confident about the conditions they would face moving forward. Many saw a more balanced market were the ore reasonable delivery schedule of newbuildings (compared to that of 2012) would be met with the equal demand growth that they had been accustomed to during the period post the 2008 crisis”.
Intermodal’s Research Analyst, Mr. George Lazaridis noted that, “this was a fairly reasonable assumption as there seemed to be nothing in sight that could stop the insatiable appetite from the developing economies for further growth and higher consumption of raw materials. This all proved the more reasonable when just at the start of the final quarter of 2013 a major rally in the freight markets started to take place, bringing earnings to levels that were long forgotten”.
Yet, as he noted “this rosy picture painted by many in their mind was already breaking at the seams. The freight market started to plummet back down to the levels seen in early 2013 and whispers started to emerge of an imminent slowdown in growth by the dry bulk’s major driving economy, namely China. Yet this did not seem to have the strong impact many would have anticipated in the secondhand market. Prices continued to climb at an extraordinary rate peaking late April early May, despite the fact that a promise of a strong spring market never materialized. Yet even after this, the correction was only marginal”.
So why is there still such optimism amongst buyers? and more specifically why still for the larger Capesize vessels? These are the questions posed rightfully so by the shipbroker’s analyst. According to Mr. Lazaridis, “many may be still convinced that appetite will still be there going forward for both iron ore and coal by the world’s second largest economy. In all truth there may well be a new stimulus plan just around the corner and things may well get back on track with regards to demand. But it seems there is a more indirect cause at play here.
While the continual increase in asset prices may be seen as a reflection of a more bullish approach by investors, it seems to be more the excess of financing and the high price ideas held by the few available sellers in the market. With regards to the former, one must not forget that finance was not easily available during 2011-2012, especially for secondhand purchases and as a consequence the large influx of cash has made most buyers willing to splash out more in order to fuel their expansion plans. This will inevitably have some consequences going forward as most of this readily available cash comes at a much higher cost then what the traditional bank driven finance would have”, he noted.
Lazaridis concluded that “as to the side of the sellers, there are few out there willing to part with their assets at lower prices than they have been used to seeing over the past couple of months, and holding a more optimistic view themselves, they are only truly willing sellers at the currently prevailing prices. The question that holds is how long will this new price reality hold? And will freight rates eventually show the recovery all these prospective buyers are hoping for?”, he wondered.
Source: Nikos Roussanoglou, Hellenic Shipping News
If you believe an article violates your rights or the rights of others, please contact us.
|
|
Saturday, 27 September 14
OIL MARKET CONTANGO: SPECULATION ON FUTURE PRICES CAN BE A RISKY MOVE, EVEN FOR TANKER OWNERS HELLENIC SHIPPING NEWS
Despite the fact that tanker owners can easily use their vessels as floating storage units for oil, in a bid to exploit the current oil market dyna ...
Saturday, 27 September 14
MORE COAL MINERS AGREE TO AMEND CONTRACTS - THE JAKARTA POST
The Energy and Mineral Resources Ministry is in a rush to beat a deadline for the conclusion of numerous memorandums of understanding (MoUs) with t ...
Friday, 26 September 14
INDIA SUPREME COURT RULING TO HIT STEEL, UTILITY EARNINGS, SAYS FITCH
COALspot.com: The 24 September Supreme Court of India (SCI) decision to cancel almost every coal block allocation since 1993 will have a negative f ...
Friday, 26 September 14
U.S WEEKLY COAL PRODUCTION FELL 1.8% WEEK OVER WEEK, SAYS EIA
COALspot.com – United States the world's one of largest coal producers, produced approximately 18.80 million short tons (mmst) of c ...
Friday, 26 September 14
ORACLE SIGNS EPC FRAMEWORK AGREEMENT WITH SEPCO FOR COAL MINE AND POWER PLANT IN PAKISTAN
COALspot.com: Oracle Coalfields PLC, the UK developer of a lignite coal mine and power plant in the south-eastern Sindh Province, Pakistan, has ann ...
|
|
|
Showing 3466 to 3470 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Billiton Holdings Pty Ltd - Australia
- Kumho Petrochemical, South Korea
- Krishnapatnam Port Company Ltd. - India
- Malabar Cements Ltd - India
- Coastal Gujarat Power Limited - India
- Bukit Makmur.PT - Indonesia
- Mjunction Services Limited - India
- Directorate Of Revenue Intelligence - India
- PetroVietnam Power Coal Import and Supply Company
- Kobexindo Tractors - Indoneisa
- GAC Shipping (India) Pvt Ltd
- South Luzon Thermal Energy Corporation
- Sojitz Corporation - Japan
- Sindya Power Generating Company Private Ltd
- Therma Luzon, Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- Jaiprakash Power Ventures ltd
- Metalloyd Limited - United Kingdom
- Kapuas Tunggal Persada - Indonesia
- Rio Tinto Coal - Australia
- Baramulti Group, Indonesia
- MS Steel International - UAE
- IHS Mccloskey Coal Group - USA
- Economic Council, Georgia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Banpu Public Company Limited - Thailand
- White Energy Company Limited
- Indian Energy Exchange, India
- Central Java Power - Indonesia
- Australian Coal Association
- Ministry of Transport, Egypt
- Altura Mining Limited, Indonesia
- Heidelberg Cement - Germany
- Pipit Mutiara Jaya. PT, Indonesia
- Aboitiz Power Corporation - Philippines
- Ministry of Finance - Indonesia
- Price Waterhouse Coopers - Russia
- Gujarat Mineral Development Corp Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- VISA Power Limited - India
- Siam City Cement PLC, Thailand
- Bhushan Steel Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Timah Investasi Mineral - Indoneisa
- Interocean Group of Companies - India
- Orica Australia Pty. Ltd.
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Energy Development Corp, Philippines
- Meralco Power Generation, Philippines
- Kideco Jaya Agung - Indonesia
- Eastern Energy - Thailand
- Semirara Mining and Power Corporation, Philippines
- Makarim & Taira - Indonesia
- Indo Tambangraya Megah - Indonesia
- Parry Sugars Refinery, India
- Intertek Mineral Services - Indonesia
- CIMB Investment Bank - Malaysia
- Vedanta Resources Plc - India
- Straits Asia Resources Limited - Singapore
- Sarangani Energy Corporation, Philippines
- Gujarat Sidhee Cement - India
- Karbindo Abesyapradhi - Indoneisa
- Toyota Tsusho Corporation, Japan
- Australian Commodity Traders Exchange
- Neyveli Lignite Corporation Ltd, - India
- Chamber of Mines of South Africa
- GN Power Mariveles Coal Plant, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Kepco SPC Power Corporation, Philippines
- Carbofer General Trading SA - India
- Energy Link Ltd, New Zealand
- Attock Cement Pakistan Limited
- Jindal Steel & Power Ltd - India
- Ministry of Mines - Canada
- Mercator Lines Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- European Bulk Services B.V. - Netherlands
- Medco Energi Mining Internasional
- Essar Steel Hazira Ltd - India
- PNOC Exploration Corporation - Philippines
- Tamil Nadu electricity Board
- Goldman Sachs - Singapore
- Iligan Light & Power Inc, Philippines
- Coalindo Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Petrochimia International Co. Ltd.- Taiwan
- Bukit Asam (Persero) Tbk - Indonesia
- Electricity Generating Authority of Thailand
- Ind-Barath Power Infra Limited - India
- Bukit Baiduri Energy - Indonesia
- Mintek Dendrill Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- The Treasury - Australian Government
- SMC Global Power, Philippines
- Agrawal Coal Company - India
- Simpson Spence & Young - Indonesia
- Bharathi Cement Corporation - India
- Port Waratah Coal Services - Australia
- Edison Trading Spa - Italy
- Rashtriya Ispat Nigam Limited - India
- Bayan Resources Tbk. - Indonesia
- SMG Consultants - Indonesia
- Chettinad Cement Corporation Ltd - India
- Bangladesh Power Developement Board
- ASAPP Information Group - India
- PTC India Limited - India
- Vizag Seaport Private Limited - India
- Antam Resourcindo - Indonesia
- AsiaOL BioFuels Corp., Philippines
- TeaM Sual Corporation - Philippines
- The University of Queensland
- New Zealand Coal & Carbon
- Singapore Mercantile Exchange
- Formosa Plastics Group - Taiwan
- Wilmar Investment Holdings
- Power Finance Corporation Ltd., India
- Africa Commodities Group - South Africa
- Cigading International Bulk Terminal - Indonesia
- Tata Chemicals Ltd - India
- Dalmia Cement Bharat India
- Salva Resources Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- San Jose City I Power Corp, Philippines
- London Commodity Brokers - England
- Samtan Co., Ltd - South Korea
- Indian Oil Corporation Limited
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Commonwealth Bank - Australia
- GVK Power & Infra Limited - India
- Global Green Power PLC Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Deloitte Consulting - India
- Indogreen Group - Indonesia
- Uttam Galva Steels Limited - India
- Larsen & Toubro Limited - India
- Thai Mozambique Logistica
- Bahari Cakrawala Sebuku - Indonesia
- Global Coal Blending Company Limited - Australia
- Indika Energy - Indonesia
- Orica Mining Services - Indonesia
- Madhucon Powers Ltd - India
- Sical Logistics Limited - India
- Wood Mackenzie - Singapore
- Miang Besar Coal Terminal - Indonesia
- Indonesian Coal Mining Association
- McConnell Dowell - Australia
- Riau Bara Harum - Indonesia
- Eastern Coal Council - USA
- Cement Manufacturers Association - India
- Trasteel International SA, Italy
- Ceylon Electricity Board - Sri Lanka
- Holcim Trading Pte Ltd - Singapore
- Karaikal Port Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Xindia Steels Limited - India
- Lanco Infratech Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- CNBM International Corporation - China
- ICICI Bank Limited - India
- Meenaskhi Energy Private Limited - India
- Ambuja Cements Ltd - India
- Borneo Indobara - Indonesia
- Global Business Power Corporation, Philippines
- PowerSource Philippines DevCo
- Parliament of New Zealand
- Vijayanagar Sugar Pvt Ltd - India
- Renaissance Capital - South Africa
- Thiess Contractors Indonesia
- Barasentosa Lestari - Indonesia
- Aditya Birla Group - India
- Alfred C Toepfer International GmbH - Germany
- Sree Jayajothi Cements Limited - India
- Electricity Authority, New Zealand
- Gujarat Electricity Regulatory Commission - India
- GMR Energy Limited - India
- OPG Power Generation Pvt Ltd - India
- Mercuria Energy - Indonesia
- Merrill Lynch Commodities Europe
- Posco Energy - South Korea
- Kalimantan Lumbung Energi - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Standard Chartered Bank - UAE
- International Coal Ventures Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Semirara Mining Corp, Philippines
- Georgia Ports Authority, United States
- Videocon Industries ltd - India
- Petron Corporation, Philippines
- Independent Power Producers Association of India
- Maheswari Brothers Coal Limited - India
- Marubeni Corporation - India
- Anglo American - United Kingdom
- Sakthi Sugars Limited - India
- Jorong Barutama Greston.PT - Indonesia
- The State Trading Corporation of India Ltd
- Leighton Contractors Pty Ltd - Australia
- Binh Thuan Hamico - Vietnam
- Romanian Commodities Exchange
- Bhatia International Limited - India
- Grasim Industreis Ltd - India
- Minerals Council of Australia
- Central Electricity Authority - India
- Kaltim Prima Coal - Indonesia
- Planning Commission, India
- Oldendorff Carriers - Singapore
- India Bulls Power Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- IEA Clean Coal Centre - UK
- Latin American Coal - Colombia
- Coal and Oil Company - UAE
- Siam City Cement - Thailand
- LBH Netherlands Bv - Netherlands
- Bulk Trading Sa - Switzerland
- Star Paper Mills Limited - India
- Bhoruka Overseas - Indonesia
- Pendopo Energi Batubara - Indonesia
|
| |
| |
|
